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Interest Rates Canada Lenders

Bennett Jones LLP

Canadian Government (Finally) Provides Certainty on Criminal Interest Rates

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As we have reported in prior blogs, the Government of Canada is moving forward with plans to lower the criminal interest rate to an annual percentage rate (APR) of 35 percent (the current criminal interest rate, being an...more

Bennett Jones LLP

An Update on Criminal Interest Rate Amendments in Canada

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On April 16, 2024, the Deputy Prime Minister and Finance Minister presented the Canadian Government’s 2024 budget. The government reiterated that it was “reinforcing its efforts to crack down on predatory lending, and moving...more

Blake, Cassels & Graydon LLP

Enjeux civils du nouveau Règlement sur le taux d’intérêt criminel

Le nouveau règlement intitulé Règlement sur le taux d’intérêt criminel (le « Règlement ») a été annoncé le 23 décembre 2023. Il introduit plusieurs considérations importantes en matière de droit civil que doivent prendre en...more

Blake, Cassels & Graydon LLP

Civil Implications of the New Criminal Interest Rate Regulations

The new Criminal Interest Rate Regulations (Regulations) announced on December 23, 2023, give rise to several important civil implications for lenders and service providers throughout Canada, even though the Regulations have...more

Bennett Jones LLP

Government Announces Exemptions to the Proposed Lower Criminal Interest Rate

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As we previously reported in April 2023 in our blog, It's Official—Proposed Criminal Interest Rate Amendments Introduced, the Government of Canada is proposing to lower the current criminal rate of interest to 35 percent. At...more

Davies Ward Phillips & Vineberg LLP

Canada’s Shifting Credit and Insolvency Landscapes - Davies Insolvency Now, Issue 6

In this issue of Davies Insolvency Now, against a backdrop of rising inflation and interest rates, we take a deep dive into the legislation that regulates rates of interest in Canada, drawing on recent court decisions to help...more

Bennett Jones LLP

An Update on Canada's Efforts to Amend the Criminal Rate of Interest

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On March 22, 2022, Bill S-239, An Act to amend the Criminal Code (Criminal Interest Rate) went to second reading at the Senate. The Bill proposes changes to section 347(2) of the Criminal Code which would reduce the current...more

Bennett Jones LLP

Significant Changes Proposed to the Criminal Interest Rate

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On May 11, 2021, Bill C-274, An Act to amend the Criminal Code (Criminal Code Interest Rate) received first reading in the House of Commons. The Bill proposes to amend the definitions of "criminal rate" and "interest" under...more

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